Which of the following is an internal control procedure used to safeguard a company's assets? Multiple Choice Timely deposits of cash receipts into a checking account Separation of duties Reconciliation of the bank statement All of these answer choices are correc

All of these answer choices are correct

Explanation:

Timely deposits of cash receipts into a checking account is an internal control process that mitigates against the risk of theft or misappropriation of cash (an asset).

Separation of duties is a basic principle of internal controls that ensures that a transaction is not initiated, reviewed, approved and recorded by a single person. This mitigates against the risk of fraud ( including misappropriation of assets) and error.

Reconciliation of the bank statement is also an internal control measure that prevents or corrects the omissions and erroneous postings into the cash/bank ledger.

the correct option is c

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explanation: